10-Q

UNITED STATESSECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549

FORM 10-Q

[X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934   FOR THE QUARTERLY PERIOD ENDED JULY 31, 2015

Commission file number 333-180164

AMERICAN OIL & GAS INC. (Exact name of registrant as specified in its charter)

Nevada (State or other jurisdiction of incorporation or organization)

2100 West Loop South, Suite 700

Houston, TX  77027

(Address of principal executive offices, including zip code.)

(832)510-8950 (Telephone number, including area code)

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the last 90 days. YES [  ] NO [X]

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate Web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). YES [  ] NO [X]

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, or a smaller reporting company. See the definitions of "large accelerated filer, "accelerated filer," "non-accelerated filer," and "smaller reporting company" in Rule 12b-2 of the Exchange Act.

Large accelerated filer  [  ]	Accelerated filer  [   ]
Non-accelerated filer  [  ]	Smaller reporting company  [X]

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES [  ] NO [X]

State the number of shares outstanding of each of the issuer's classes of common equity, as of the latest practicable date:  20,000,000 shares as of November 28, 2017

ITEM 1.  FINANCIAL INFORMATION

	Page
PART I – FINANCIAL INFORMATION
Item 1. Condensed Financial Statements	2
Item 2. Management’s Discussion and Analysis or Plan of Operation	10
Item 3. Quantitative and Qualitative Disclosures About Market Risk	11
Item 4. Controls and Procedures	11
PART II – OTHER INFORMATION
Item 1. Legal Proceedings	13
Item 1a. Risk Factors	13
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds	13
Item 3. Defaults Upon Senior Securities	13
Item 4. Mine Safety Disclosures	13
Item 5. Other Information	13
Item 6. Exhibits	13

2

AMERICAN OIL & GAS INC.

Condensed Balance Sheets

	(Unaudited)
	As of			As of
	July 31, 2015			January 31, 2015
ASSETS
Current Assets
Cash	$	-		$	540
Note Receivable		-			6,000
Total Current Assets		-			6,540
Long Term Note Receivable		-			8,714
Total Assets	$	-		$	15,254
LIABILITIES & STOCKHOLDERS' DEFICIT
Current Liabilities
Accounts Payable	$	8,475		$	10,105
Loan Payable - Related Party		40,249			37,000
Total Current Liabilities		48,724			47,105
Commitments and Contingencies
Stockholders' Deficit
Common stock, $0.001 par value, 75,000,000 shares authorized;
20,000,000 shares issued and outstanding as of July 31, 2015 and January 31, 2015, respectively		20,000			20,000
Additional Paid-In Capital		40,000			40,000
Accumulated deficit		(108,724	)		(91,852	)
Total Stockholders' Deficit		(48,724	)		(31,852	)
Total Liabilities & Stockholders' Deficit	$	-		$	15,254

See Notes to Financial Statements

3

AMERICAN OIL & GAS INC.

Condensed Statements of Operations

(Unaudited)

	Three Months			Three Months			Six Months			Six Months
	ended			ended			ended			ended
	July 31, 2015			July 31, 2014			July 31, 2015			July 31, 2014
Revenues
Revenues	$	-		$	-		$	-		$	-
Total Revenues		-			-			-			-
Expenses
Operating Expenses		-			1,732			-			4,872
General and Administration		1,878			2,663			2,039			3,381
Depletion		-			1,003			-			1,930
Bad Debt		14,714			-			14,714			-
Professional Fees		5,600			8,872			5,653			9,872
Total Expenses		22,192			14,269			22,405			20,055
Net Ordinary Income		(22,192	)		(14,269	)		(22,405	)		(20,055	)
Other Income
Gain on Forgiveness of Debt		5,533			-			5,533			-
Total Other Income		5,533			-			5,533			-
Net Income (Loss)	$	(16,659	)	$	(14,269	)	$	(16,872	)	$	(20,055	)
Net Loss Per Basic and Dilited share	$	(0.00	)	$	(0.00	)	$	(0.00	)	$	(0.00	)
Weighted average number of Common Shares outstanding		20,000,000			20,000,000			20,000,000			20,000,000

See Notes to Financial Statements

4

AMERICAN OIL & GAS INC.

Condensed Statements of Cash Flows

(Unaudited)

	Six Months			Six Months
	ended			ended
	July 31, 2015			July 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss)	$	(16,872	)	$	(20,055	)
Adjustments to reconcile net loss to net cash used in operating activities:
Changes in operating assets and liabilities:
Note Receivable		14,714			-
Depletion		-			1,930
Accounts Payable		(1,630	)		5,931
Net cash used in operating activities		(3,788	)		(12,194	)
CASH FLOWS FROM INVESTING ACTIVITIES
Oil and Gas Property		-			(3,007	)
Net cash used in investing activities		-			(3,007	)
CASH FLOWS FROM FINANCING ACTIVITIES
Loan Payable - Related Party		3,248			12,000
Net cash provided by financing activities		3,248			12,000
Net decrease in cash		(540	)		(3,201	)
Cash at beginning of period		540			6,728
Cash at end of period	$	-		$	3,527
SUPPLEMENTAL DISCLOSURES OF CASH FLOW INFORMATION
Cash paid during year for :
Interest	$	-		$	-
Income Taxes	$	-		$	-

See Notes to Financial Statements

5

AMERICAN OIL & GAS INC.

Notes to Condensed Financial Statements

July 31, 2015

(Unaudited)

NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS

American Oil and Gas Inc. (the Company) was incorporated under the laws of the State of Nevada on January 23, 2012.  The Company was formed to engage in the acquisition, exploration and development of oil and gas properties.

The Company is in the exploration stage. The Company currently does not operate any properties.  The Company has not commenced any exploration activities.

NOTE 2. SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The Company’s financial statements are prepared using the accrual method of accounting.  The Company has elected a January 31, year-end.

The accompanying unaudited interim financial statements of American Oil & Gas Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Form 10-K filed with the SEC.  In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein.

In 2015 the Company adopted ASU 2014-10 which eliminates the financial reporting requirement to present from inception balances. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year.  Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2015 as reported in the Form 10-K have been omitted.

Basic Earnings (loss) Per Share

ASC No. 260, “Earnings Per Share”, specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock.   The Company has adopted the provisions of ASC No. 260.

Basic net earnings (loss) per share amounts is computed by dividing the net earnings (loss) by the weighted average number of common shares outstanding.  Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company.

Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

6

AMERICAN OIL & GAS INC.

Notes to Condensed Financial Statements

July 31, 2015

(Unaudited)

Use of Estimates and Assumptions

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In accordance with ASC No. 250 all adjustments are normal and recurring.

Income Taxes

Income taxes are provided in accordance with ASC No. 740, Accounting for Income Taxes.  A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carryforwards.  Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities.

Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized.  Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

Revenue

The Company records revenue on the accrual basis when all goods and services have been performed and delivered, the amounts are readily determinable, and collection is reasonably assured.  The Company has not generated any revenue since its inception.

Advertising

The Company will expense its advertising when incurred. There has been no advertising since inception.

Oil and Gas Properties

Oil and gas investments are accounted for by the successful efforts method of accounting.  Accordingly, the costs incurred to acquire property (proved and unproved), all development costs, and successful exploratory costs are capitalized, whereas the costs of unsuccessful exploratory wells are expensed.

Depletion of capitalized oil and gas well costs is provided using the units of production method based on estimated proved developed oil and gas reserves of the respective oil and gas properties.

NOTE 3. GOING CONCERN

As of July 31, 2015, the Company has generated limited revenue and has accumulated losses since inception. The Company's ability to raise additional capital through the future issuances of common stock is unknown. Securing additional financing, the successful development of the Company's contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. The ability to successfully resolve these factors raise substantial doubt about the Company's ability to continue as a going concern. The financial statements of the Company do not include any adjustments that may result from the outcome of these aforementioned uncertainties.

7

AMERICAN OIL & GAS INC.

Notes to Condensed Financial Statements

July 31, 2015

(Unaudited)

The failure to achieve the necessary levels of profitability or obtain the additional funding would be detrimental to the Company.

NOTE 4. RECENT ACCOUNTING PRONOUCEMENTS

The Company has evaluated all the recent accounting pronouncements through the date the financial statements were issued and filed with the Securities and Exchange Commission and believe that none of them will have a material effect on the Company’s financial statements.

NOTE 5. USE OF ESTIMATES AND ASSUMPTIONS

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In accordance with ASC No. 250 all adjustments are normal and recurring.

NOTE 6. INVESTMENTS IN OIL AND GAS PROPERTIES

Cecil Barlow

On February 2, 2012 the Company acquired the Cecil Barlow lease in Caddo Parish, Louisiana for $10,000.  Subsequently, the Company has spent an additional $27,102 in upgrades to the well. 

On October 31, 2014 the Company sold the Cecil Barlow lease in Caddo Parish, Louisiana for $36,000.  The purchase price was to be paid with an initial deposit of $6,000 minus outstanding taxes and invoices due to the operator.  The balance being paid over several installments of $6,000 every 6 months with a balloon payment of $12,000 on the eighteenth month.

On July 31, 2015 after not receiving and being unable to collect any of the funds that it is owed, the Company has chosen to write off those funds.

NOTE 7. GAIN ON FORGIVENESS OF DEBT

During the three-months ended July 31, 2015 we had a gain on forgiveness of debt of $5,533 from the cancellation of a payable debt to our legal counsel.

NOTE 8. RELATED PARTY TRANSACTIONS

As of July 31, 2015, $3,500 is owed to Shane Reeves, President and $36,749 is owed to Robert Gelfand, a major shareholder, from funds loaned by them to the Company and are non-interest bearing with no specific repayment terms.

8

AMERICAN OIL & GAS INC.

Notes to Condensed Financial Statements

July 31, 2015

(Unaudited)

NOTE 9: SUBSEQUENT EVENTS

On June 13, 2017, Ronald Pantin Carvallo was appointed CEO and a director.  Shane Reeves resigned as CEO, but remained as CFO and President.

Ronald Pantin Carvallo was the co-founder, Chief Executive Officer and Executive Director of Pacific Exploration & Production until the end of November 2016.  Mr. Pantin worked in the Venezuelan oil industry for twenty-three years prior to his appointment as CEO of Pacific Rubiales in 2007.  He held numerous positions at Petróleos de Venezuela (PDVSA), including Vice Chairman of Corpoven, Vice President of PDVSA E&P, President of CVP, President of PDVSA Exploration, President of PDVSA Servicios, and Executive Vice President of PDVSA Oil & Gas. Immediately after PDVSA, Mr. Pantin joined Enron Venezuela as its President. Mr. Pantin holds two bachelor degrees in Petroleum Engineering and Management Science from Mississippi State University with the highest distinction in 1975, and two M.Sc. In Petroleum Engineering and Industrial Engineering from Stanford University in 1977.  He is a member of the Board of Directors of several international companies in the energy and mining sector.  Mr. Pantin has been awarded several internationals awards: “Latin Trade, Pioneering CEO of the year 2010”, "SPE Leadership, growth and performance Colombia SPE 2010”, "SPE Young Professional Colombia 2009".

The Company has evaluated events subsequent to the date these financial statements have been issued to assess the need for potential recognition or disclosure in this report. Such events were evaluated through the date these financial statements were available to be issued. Based upon this evaluation, it was determined that, other than the event noted above, no subsequent events occurred that require recognition or disclosure in the financial statements.

9

ITEM 2. MANAGEMENT'S DISCUSSION AND ANALYSIS OR PLAN OF OPERATION

Forward Looking Statements

This section includes a number of forward-looking statements that reflect our current views with respect to future events and financial performance. Forward-looking statements are often identified by words like: believe, expect, estimate, anticipate, intend, project and similar expressions, or words which, by their nature, refer to future events. You should not place undue certainty on these forward-looking statements, which apply only as of the date of this report. These forward-looking states are subject to certain risks and uncertainties that could cause actual results to differ materially from historical results or out predictions.

Results of Operations

We are still in our exploration stage and have generated $3,918 in revenues to date.

We incurred operating expenses of $22,192 for the three-month period ended July 31, 2015 with no revenues.  We incurred operating expenses of $14,269 for the three-month period ended July 31, 2014 with no revenues.  Our expenses consisted of general operating expenses and professional fees incurred in connection with the day to day operation of our business.  For the three months ended July 31, 2015 we also recorded a bad debt of $14,714.

Our net loss for the three months ended July 31, 2015 was $16,659.  Our net loss for the three months ended July 31, 2014 was $14,269.  During the three-months ended July 31, 2015 we had a gain on forgiveness of debt of $5,533 from the cancellation of a payable debt to our legal counsel.

We incurred operating expenses of $22,405 for the six-month period ended July 31, 2015 with no revenues.  We incurred operating expenses of $20,055 for the six-month period ended July 31, 2014 with no revenues.  Our expenses consisted of general operating expenses and professional fees incurred in connection with the day to day operation of our business. For the three months ended July 31, 2015 we also recorded a bad debt of $14,714.

Our net loss for the six months ended July 31, 2015 was $16,872.  Our net loss for the six months ended July 31, 2014 was $20,055.  During the six-months ended July 31, 2015 we had a gain on forgiveness of debt of $5,533.

Liquidity and Capital Resources

We had no cash at July 31, 2015 and there were outstanding liabilities of $48,724.  Our cash balance is not sufficient to cover the expenses we will incur during the next twelve months, we will require revenues from operations or loans from our director in order to continue.  We are an exploration stage company and have generated $3,918 in revenue from inception to July 31, 2015.

Plan of Operation

In order to achieve our business plan goals, we must find another lease and will need to realize revenue from oil & gas sales.  We are an exploration stage company and have generated $3,918 in revenue to date.  We have sold $60,000 in equity securities to pay for our start-up operations.

There is substantial doubt that we can continue as an on-going business for the next twelve months unless we generate sufficient revenues from oil & gas sales.  There is no assurance we will ever reach that point.  In the meantime, the continuation of the Company is dependent upon the continued financial support from our shareholders, our ability to obtain necessary equity financing to continue operations and the attainment of profitable operations.

10

On February 2, 2012 the Company acquired the Cecil Barlow lease in Caddo Parish, Louisiana for $10,000.  Subsequently, the Company spent an additional $27,102 in upgrades to the well. 

On October 31, 2014 the Company sold the Cecil Barlow lease in Caddo Parish, Louisiana for $36,000.  The purchase price was to be paid with an initial deposit of $6,000 minus outstanding taxes and invoices due to the operator.  The balance being paid over several installments of $6,000 every 6 months with a balloon payment of $12,000 on the eighteenth month.

On July 31, 2015 after not receiving and being unable to collect any of the funds that it is owed, the Company has chosen to write off those funds.

Our plan of operation is to search for appropriate oil and gas leases.  In addition to the cost of any potential property lease, we anticipate spending $10,000 on professional fees, including fees payable for complying with reporting obligations, $5,000 in general administrative costs and $1,125 in working capital. Total expenditures over the next 12 months are therefore expected to be approximately $50,000.

Limited Operating History; Need for Additional Capital

There is no historical financial information about us upon which to base an evaluation of our performance. We are an exploration stage corporation and have not generated any revenues from operations. We cannot guarantee we will be successful in our business operations. Our business is subject to risks inherent in the establishment of a new business enterprise, including limited capital resources, possible delays in the exploration of our properties, and possible cost overruns due to price and cost increases in services.

To become profitable and competitive, we will need to realize revenue from our oil & gas sales.  If we do not realize revenues we believe that our current cash balance will allow us to operate for approximately nine months.

Off-Balance Sheet Arrangements

We do not have any off-balance sheet arrangements that have or are reasonably likely to have a current or future effect on our financial condition, changes in financial condition, revenues or expenses, results of operations, liquidity, capital expenditures or capital resources that is material to investors.

ITEM 3. QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

Not required under Regulation S-K for “smaller reporting companies.”

ITEM 4. CONTROLS AND PROCEDURES

Evaluation of Disclosure Controls and Procedures

Management maintains “disclosure controls and procedures,” as such term is defined in Rule 13a-15(e) under the Securities Exchange Act of 1934 (the “Exchange Act”), that are designed to ensure that information required to be disclosed in our Exchange Act reports is recorded, processed, summarized and reported within the time periods specified in the Securities and Exchange Commission rules and forms, and that such information is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, as appropriate, to allow timely decisions regarding required disclosure.

11

In connection with the preparation of this quarterly report on Form 10-Q, an evaluation was carried out by management, with the participation of the Chief Executive Officer and the Chief Financial Officer, of the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act) as of July 31, 2015.

Based on that evaluation, management concluded, as of the end of the period covered by this report, that our disclosure controls and procedures were not effective in recording, processing, summarizing, and reporting information required to be disclosed, within the time periods specified in the Securities and Exchange Commission’s rules and forms.

Changes in Internal Controls over Financial Reporting

As of the end of the period covered by this report, there have been no changes in the internal controls over financial reporting during the quarter ended July 31, 2015, that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting subsequent to the date of management’s last evaluation.

12

PART II. OTHER INFORMATION

ITEM 1. LEGAL PROCEEDINGS

Our Company is not involved in any material litigation and we are unaware of any threatened material litigation.  From time to time, we may become involved in litigation relating to claims arising from the ordinary course of our business.

ITEM 1A. RISK FACTORS

Not required under Regulation S-K for “smaller reporting companies.”

ITEM 2. UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS

None.

ITEM 3. DEFAULTS UPON SENIOR SECURITIES

There were no defaults upon senior securities during the period ended July 31, 2015.

ITEM 4. MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5. OTHER INFORMATION

None.

ITEM 6.     EXHIBITS.

The following exhibits are included with this quarterly filing.  Those marked with an asterisk and required to be filed hereunder, are incorporated by reference and can be found in their entirety in our original Registration Statement on Form S-1, filed under SEC File Number 333-180164, at the SEC website at www.sec.gov:

Exhibit No.	Description
3.1	Articles of Incorporation*
3.2	Bylaws*
31.1	Sec. 302 Certification of Principal Executive Officer
31.2	Sec. 302 Certification of Principal Financial Officer
32.1	Sec. 906 Certification of Principal Executive Officer
32.2	Sec. 906 Certification of Principal Financial Officer
101	Interactive data files pursuant to Rule 405 of Regulation S-T

13

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

	American Oil & Gas Inc.
	Registrant
Date December 4, 2017	By: /s/ Ronald Pantin Carvallo
	Ronald Pantin Carvallo, Chief Executive Officer  and Director
Date December 4, 2017	By: /s/ Shane Reeves
	Shane Reeves, Chief Financial and Accounting Officer and  Director

14

EX-31.1

Exhibit 31.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

I, Ronald Pantin Carvallo, certify that:

1. I have reviewed this report on Form 10-Q of American Oil & Gas Inc.

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: December 4, 2017

/s/ Ronald Pantin Carvallo

Ronald Pantin Carvallo

Chief Executive Officer

EX-31.2

Exhibit 31.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

I, Shane Reeves, certify that:

1. I have reviewed this report on Form 10-Q of American Oil & Gas Inc.

2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report;

3. Based on my knowledge, the financial statements, and other financial information included in this report, fairly present in all material respects the financial condition, results of operations and cash flows of the registrant as of, and for, the periods presented in this report;

4. The registrant’s other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Exchange Act Rules 13a-15(e) and 15d-15(e)) and internal control over financial reporting (as defined in Exchange Act Rules 13a-15(f) and 15d-15(f)) for the registrant and have:

a) Designed such disclosure controls and procedures or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared;

b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles;

c) Evaluated the effectiveness of the registrant’s disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of the end of the period covered by this report based on such evaluation; and

d) Disclosed in this report any change in the registrant’s internal control over financial reporting that occurred during the registrant’s most recent fiscal quarter (the registrant’s fourth fiscal quarter in the case of an annual report) that has materially affected, or is reasonably likely to materially affect, the registrant’s internal control over financial reporting; and

5. The registrant’s other certifying officer(s) and I have disclosed, based on our most recent evaluation of internal control over financial reporting, to the registrant’s auditors and the audit committee of registrant’s board of directors (or persons performing the equivalent functions):

a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant’s ability to record, process, summarize and report financial information; and

b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant’s internal control over financial reporting.

Date: December 4, 2017

/s/ Shane Reeves

Shane Reeves

Chief Financial Officer

EX-32.1

Exhibit 32.1

CERTIFICATION OF CHIEF EXECUTIVE OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of American Oil & Gas Inc. (the “Company”) on Form 10-Q for the period ending July 31, 2015 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Ronald Pantin Carvallo, Chief Executive Officer of the Company, certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

IN WITNESS WHEREOF, the undersigned has executed this certification as of the 4^th day of December, 2017.

/s/ Ronald Pantin Carvallo

Chief Executive Officer

EX-32.2

Exhibit 32.2

CERTIFICATION OF CHIEF FINANCIAL OFFICER

PURSUANT TO 18 U.S.C. SECTION 1350,

AS ADOPTED PURSUANT TO

SECTION 906 OF THE SARBANES-OXLEY ACT OF 2002

In connection with the Quarterly Report of American Oil & Gas Inc. (the “Company”) on Form 10-Q for the period ending July 31, 2015 as filed with the Securities and Exchange Commission on the date hereof (the “Report”), I, Shane Reeves, Chief Financial Officer of the Company, certify, pursuant to 18 U.S.C. §1350, as adopted pursuant to §906 of the Sarbanes-Oxley Act of 2002, that:

(1) The Report fully complies with the requirements of section 13(a) or 15(d) of the Securities Exchange Act of 1934; and

(2) The information contained in the Report fairly presents, in all material respects, the financial condition and result of operations of the Company.

IN WITNESS WHEREOF, the undersigned has executed this certification as of the 4^th day of December, 2017.

/s/ Shane Reeves

Chief Financial Officer

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Document and Entity Information - shares	6 Months Ended
	Jul. 31, 2015	Nov. 28, 2017
Document And Entity Information [Abstract]
Entity Registrant Name	American Oil & Gas Inc.
Entity Central Index Key	0001544400
Trading Symbol	aoix
Current Fiscal Year End Date	--01-31
Entity Filer Category	Smaller Reporting Company
Entity Common Stock, Shares Outstanding		20,000,000
Document Type	10-Q
Document Period End Date	Jul. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q2

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Condensed Balance Sheets - USD ($)	Jul. 31, 2015	Jan. 31, 2015
Current Assets
Cash		$ 540
Note Receivable		6,000
Total Current Assets		6,540
Long Term Note Receivable		8,714
Total Assets		15,254
Current Liabilities
Accounts Payable	8,475	10,105
Loan Payable - Related Party	40,249	37,000
Total Current Liabilities	48,724	47,105
Commitments and Contingencies
Stockholders' Deficit
Common stock, $0.001 par value, 75,000,000 shares authorized; 20,000,000 shares issued and outstanding as of July 31, 2015 and January 31, 2015, respectively	20,000	20,000
Additional Paid-In Capital	40,000	40,000
Accumulated deficit	(108,724)	(91,852)
Total Stockholders' Deficit	(48,724)	(31,852)
Total Liabilities & Stockholders' Deficit		$ 15,254

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Condensed Balance Sheets (Parenthetical) - $ / shares	Jul. 31, 2015	Jan. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	75,000,000	75,000,000
Common stock, shares issued	20,000,000	20,000,000
Common stock, shares outstanding	20,000,000	20,000,000

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Condensed Statements of Operations (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2015	Jul. 31, 2014
Revenues
Revenues
Total Revenues
Expenses
Operating Expenses		1,732		4,872
General and Administration	1,878	2,663	2,039	3,381
Depletion		1,003		1,930
Bad Debt	14,714		14,714
Professional Fees	5,600	8,872	5,653	9,872
Total Expenses	22,192	14,269	22,405	20,055
Net Ordinary Income	(22,192)	(14,269)	(22,405)	(20,055)
Other Income
Gain on Forgiveness of Debt	5,533		5,533
Total Other Income	5,533		5,533
Net Income (Loss)	$ (16,659)	$ (14,269)	$ (16,872)	$ (20,055)
Net Loss Per Basic and Dilited share	$ 0.00	$ 0.00	$ 0.00	$ 0.00
Weighted average number of Common Shares outstanding	20,000,000	20,000,000	20,000,000	20,000,000

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Condensed Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jul. 31, 2015	Jul. 31, 2014
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss)	$ (16,872)	$ (20,055)
Changes in operating assets and liabilities:
Note Receivable	14,714
Depletion		1,930
Accounts Payable	(1,630)	5,931
Net cash used in operating activities	(3,788)	(12,194)
CASH FLOWS FROM INVESTING ACTIVITIES
Oil and Gas Property		(3,007)
Net cash used in investing activities		(3,007)
CASH FLOWS FROM FINANCING ACTIVITIES
Loan Payable - Related Party	3,248	12,000
Net cash provided by financing activities	3,248	12,000
Net decrease in cash	(540)	(3,201)
Cash at beginning of period	540	6,728
Cash at end of period		3,527
Cash paid during year for :
Interest
Income Taxes

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ORGANIZATION AND DESCRIPTION OF BUSINESS

6 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 1. ORGANIZATION AND DESCRIPTION OF BUSINESS

American Oil and Gas Inc. (the Company) was incorporated under the laws of the State of Nevada on January 23, 2012.  The Company was formed to engage in the acquisition, exploration and development of oil and gas properties.

The Company is in the exploration stage. The Company currently does not operate any properties.  The Company has not commenced any exploration activities.

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SIGNIFICANT ACCOUNTING POLICIES

6 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 2. SIGNIFICANT ACCOUNTING POLICIES

Basis of Presentation

The Company’s financial statements are prepared using the accrual method of accounting.  The Company has elected a January 31, year-end.

The accompanying unaudited interim financial statements of American Oil & Gas Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Form 10-K filed with the SEC.  In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein.

In 2015 the Company adopted ASU 2014-10 which eliminates the financial reporting requirement to present from inception balances. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year.  Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2015 as reported in the Form 10-K have been omitted.

Basic Earnings (loss) Per Share

ASC No. 260, “Earnings Per Share”, specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock.   The Company has adopted the provisions of ASC No. 260.

Basic net earnings (loss) per share amounts is computed by dividing the net earnings (loss) by the weighted average number of common shares outstanding.  Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company.

Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Use of Estimates and Assumptions

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In accordance with ASC No. 250 all adjustments are normal and recurring.

Income Taxes

Income taxes are provided in accordance with ASC No. 740, Accounting for Income Taxes.  A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carryforwards.  Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities.

Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized.  Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

Revenue

The Company records revenue on the accrual basis when all goods and services have been performed and delivered, the amounts are readily determinable, and collection is reasonably assured.  The Company has not generated any revenue since its inception.

Advertising

The Company will expense its advertising when incurred. There has been no advertising since inception.

Oil and Gas Properties

Oil and gas investments are accounted for by the successful efforts method of accounting.  Accordingly, the costs incurred to acquire property (proved and unproved), all development costs, and successful exploratory costs are capitalized, whereas the costs of unsuccessful exploratory wells are expensed.

Depletion of capitalized oil and gas well costs is provided using the units of production method based on estimated proved developed oil and gas reserves of the respective oil and gas properties.

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GOING CONCERN

6 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 3. GOING CONCERN

As of July 31, 2015, the Company has generated limited revenue and has accumulated losses since inception. The Company's ability to raise additional capital through the future issuances of common stock is unknown. Securing additional financing, the successful development of the Company's contemplated plan of operations, and its transition, ultimately, to the attainment of profitable operations are necessary for the Company to continue operations. The ability to successfully resolve these factors raise substantial doubt about the Company's ability to continue as a going concern. The financial statements of the Company do not include any adjustments that may result from the outcome of these aforementioned uncertainties.

The failure to achieve the necessary levels of profitability or obtain the additional funding would be detrimental to the Company.

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RECENT ACCOUNTING PRONOUCEMENTS

6 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 4. RECENT ACCOUNTING PRONOUCEMENTS

The Company has evaluated all the recent accounting pronouncements through the date the financial statements were issued and filed with the Securities and Exchange Commission and believe that none of them will have a material effect on the Company’s financial statements.

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USE OF ESTIMATES AND ASSUMPTIONS

6 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 5. USE OF ESTIMATES AND ASSUMPTIONS

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In accordance with ASC No. 250 all adjustments are normal and recurring.

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INVESTMENTS IN OIL AND GAS PROPERTIES

6 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 6. INVESTMENTS IN OIL AND GAS PROPERTIES

Cecil Barlow

On February 2, 2012 the Company acquired the Cecil Barlow lease in Caddo Parish, Louisiana for $10,000.  Subsequently, the Company has spent an additional $27,102 in upgrades to the well. 

On October 31, 2014 the Company sold the Cecil Barlow lease in Caddo Parish, Louisiana for $36,000.  The purchase price was to be paid with an initial deposit of $6,000 minus outstanding taxes and invoices due to the operator.  The balance being paid over several installments of $6,000 every 6 months with a balloon payment of $12,000 on the eighteenth month.

On July 31, 2015 after not receiving and being unable to collect any of the funds that it is owed, the Company has chosen to write off those funds.

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GAIN ON FORGIVENESS OF DEBT

6 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 7. GAIN ON FORGIVENESS OF DEBT

During the three-months ended July 31, 2015 we had a gain on forgiveness of debt of $5,533 from the cancellation of a payable debt to our legal counsel.

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RELATED PARTY TRANSACTIONS

6 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 8. RELATED PARTY TRANSACTIONS

As of July 31, 2015, $3,500 is owed to Shane Reeves, President and $36,749 is owed to Robert Gelfand, a major shareholder, from funds loaned by them to the Company and are non-interest bearing with no specific repayment terms.

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SUBSEQUENT EVENTS

6 Months Ended

Jul. 31, 2015

Notes to Financial Statements

NOTE 9: SUBSEQUENT EVENTS

On June 13, 2017, Ronald Pantin Carvallo was appointed CEO and a director.  Shane Reeves resigned as CEO, but remained as CFO and President.

Ronald Pantin Carvallo was the co-founder, Chief Executive Officer and Executive Director of Pacific Exploration & Production until the end of November 2016.  Mr. Pantin worked in the Venezuelan oil industry for twenty-three years prior to his appointment as CEO of Pacific Rubiales in 2007.  He held numerous positions at Petróleos de Venezuela (PDVSA), including Vice Chairman of Corpoven, Vice President of PDVSA E&P, President of CVP, President of PDVSA Exploration, President of PDVSA Servicios, and Executive Vice President of PDVSA Oil & Gas. Immediately after PDVSA, Mr. Pantin joined Enron Venezuela as its President. Mr. Pantin holds two bachelor degrees in Petroleum Engineering and Management Science from Mississippi State University with the highest distinction in 1975, and two M.Sc. In Petroleum Engineering and Industrial Engineering from Stanford University in 1977.  He is a member of the Board of Directors of several international companies in the energy and mining sector.  Mr. Pantin has been awarded several internationals awards: “Latin Trade, Pioneering CEO of the year 2010”, "SPE Leadership, growth and performance Colombia SPE 2010”, "SPE Young Professional Colombia 2009".

The Company has evaluated events subsequent to the date these financial statements have been issued to assess the need for potential recognition or disclosure in this report. Such events were evaluated through the date these financial statements were available to be issued. Based upon this evaluation, it was determined that, other than the event noted above, no subsequent events occurred that require recognition or disclosure in the financial statements.

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SIGNIFICANT ACCOUNTING POLICIES (Policies)

6 Months Ended

Jul. 31, 2015

Significant Accounting Policies Policies

Basis of Presentation

The Company’s financial statements are prepared using the accrual method of accounting.  The Company has elected a January 31, year-end.

The accompanying unaudited interim financial statements of American Oil & Gas Inc. (the “Company”) have been prepared in accordance with accounting principles generally accepted in the United States of America and the rules of the Securities and Exchange Commission, and should be read in conjunction with the audited financial statements and notes thereto contained in the Company’s Form 10-K filed with the SEC.  In the opinion of management, all adjustments, consisting of normal recurring adjustments, necessary for a fair presentation of financial position and the results of operations for the interim periods presented have been reflected herein.

In 2015 the Company adopted ASU 2014-10 which eliminates the financial reporting requirement to present from inception balances. The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year.  Notes to the financial statements which would substantially duplicate the disclosure contained in the audited financial statements for fiscal 2015 as reported in the Form 10-K have been omitted.

Basic Earnings (loss) Per Share

ASC No. 260, “Earnings Per Share”, specifies the computation, presentation and disclosure requirements for earnings (loss) per share for entities with publicly held common stock.   The Company has adopted the provisions of ASC No. 260.

Basic net earnings (loss) per share amounts is computed by dividing the net earnings (loss) by the weighted average number of common shares outstanding.  Diluted earnings (loss) per share are the same as basic earnings (loss) per share due to the lack of dilutive items in the Company.

Cash Equivalents

The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.

Use of Estimates and Assumptions

The preparation of financial statements in conformity with generally accepted accounting principles requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. In accordance with ASC No. 250 all adjustments are normal and recurring.

Income Taxes

Income taxes are provided in accordance with ASC No. 740, Accounting for Income Taxes.  A deferred tax asset or liability is recorded for all temporary differences between financial and tax reporting and net operating loss carryforwards.  Deferred tax expense (benefit) results from the net change during the year of deferred tax assets and liabilities.

Deferred tax assets are reduced by a valuation allowance when, in the opinion of management, it is more likely than not that some portion or all of the deferred tax assets will not be realized.  Deferred tax assets and liabilities are adjusted for the effects of changes in tax laws and rates on the date of enactment.

Revenue

The Company records revenue on the accrual basis when all goods and services have been performed and delivered, the amounts are readily determinable, and collection is reasonably assured.  The Company has not generated any revenue since its inception.

Advertising

The Company will expense its advertising when incurred. There has been no advertising since inception.

Oil and Gas Properties

Oil and gas investments are accounted for by the successful efforts method of accounting.  Accordingly, the costs incurred to acquire property (proved and unproved), all development costs, and successful exploratory costs are capitalized, whereas the costs of unsuccessful exploratory wells are expensed.

Depletion of capitalized oil and gas well costs is provided using the units of production method based on estimated proved developed oil and gas reserves of the respective oil and gas properties.

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ORGANIZATION AND DESCRIPTION OF BUSINESS (Details Narrative)	6 Months Ended
	Jul. 31, 2015
Organization And Description Of Business Details Narrative
State of incorporation	Nevada
Date of incorporation	Jan. 23, 2012

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INVESTMENTS IN OIL AND GAS PROPERTIES (Details Narrative) - USD ($)	1 Months Ended
	Oct. 31, 2014	Feb. 02, 2012
Cecil Barlow [Member]
Lease acquired		$ 10,000
Additional amount spent		$ 27,102
Caddo Parish [Member]
Lease sold	$ 36,000
Initial deposit	$ 6,000
Investments in oil and gas properties description	The balance being paid over several installments of $6,000 every 6 months with a balloon payment of $12,000 on the eighteenth month.
Installments payment	$ 6,000
Balloon payment	$ 12,000

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GAIN ON FORGIVENESS OF DEBT (Details Narrative) - USD ($)	3 Months Ended		6 Months Ended
	Jul. 31, 2015	Jul. 31, 2014	Jul. 31, 2015	Jul. 31, 2014
Gain On Forgiveness Of Debt Details Narrative
Gain on forgiveness of debt	$ 5,533		$ 5,533

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RELATED PARTY TRANSACTIONS (Details Narrative)	Jul. 31, 2015 USD ($)
Major Shareholder [Member]
Due to related party	$ 36,749
President [Member]
Due to related party	$ 3,500